From the monthly archives:

December 2010

Property Report – Newport Coast – 12/10/2010

by Vince Bindi on December 10, 2010

This analysis is brought to you by the experts at the ShortSalesASAP group, who specialize in short sale negotiations, marketing and sales here in Newport Coast . This article will report the statistics for Active for Sale and Sold standard listing properties, as compared to short sales. Currently, there are 195 detached homes listed for sale in Newport Coast , California. The median price of these homes for sale is $3,250,000 and the average price per square foot is $848 . 2 of these active listings are short sales, which represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $400,000 and the average price per square foot is $246 .

There are now 15 condominiums listed for sale in Newport Coast . The median price for these listed condominiums is $1,082,000 and the average price per square foot is $550 . Of this total, 0 are short sale listings. The median price of these short sale units is NO , and the average price per square foot is NO . The ratio of short sale condo listings to the total listings is 0% .

For homes under contract, there are 22 detached homes in escrow on this date, and the median price is $1,799,000 . Of this total, 12 are short sales in escrow, which is 55% of the total detached properties in escrow in Newport Coast , and the short sale median price in escrow is $1,799,000 .

For condominiums in escrow, there are now 12 attached units under contract, with a median price of $825,000 . Of this number, 8 are short sales, which calculates to be 67% of the total pending units, and the median price is $755,000 .

In the past 3 months, there have been a total of 29 detached homes that have sold and closed escrow in Fullerton . The median price was $2,250,000 and the average price per square foot was $584 . Of this total were 3 were short sale properties in the city of Newport Coast in the past 3 months. This number of sold short sales is 10% of the total. The median price was $2,500,000 , and the average price per square foot was $583 .

In the past 90 days, there have been a total of 16 condo sales with a median price of $850,000 , and an average price per square foot of $453 in Newport Coast . Also, there were 4 short sale condos sold, which was 25% of the total number of units sold in this period. The median price of the sold short sale condos was $855,000 , and the average price per square foot was $412 .

As can be seen above, the ratio of pending In Escrow short sale properties, to pending in escrow total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties.  This high rate of failure due to the lack of knowledge by the typical short sale listing agent.   This illustrates that Property owners who owe more than their home is worth, should work with an experienced Newport Coast short sale realtor such as the ShortSalesASAP group. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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Property Report – Coto de Caza – 12/6/2010

by Vince Bindi on December 6, 2010

This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. This is a report for standard sales and short sales in the Coto De Caza community as of 12/6 . There are currently a total of 104 detached homes listed for sale in Coto De Caza , California. The median price of these active homes for sale is $1,189,000 per square foot the average price is $359 . Of this total, 18 are short sale listings active for sale. . These short sale listings represent 17% of the total inventory of detached homes for sale. The median price of these short sale properties is $774,900 and the average price per square foot is $296 .

For attached condominiums, there are currently 9 condo units listed for sale in Coto De Caza. The median price for these listed condominiums is $399,000 and the average price per square foot is $248 . Of this total, 3 are short sale condo listings. The median price of these short sale condos is $379,000 , and the average price per square foot is $242 . The ratio of short sale condo listings to listings is 33% .

There are 43 detached homes currently under contract in escrow, and the median price of these pending properties is $1,288,000 . Of this total pending properties, 25 are short sales, which is 58% of the total detached properties in escrow in Coto De Caza 12/6 . The median price is $1,249,000 .

For condominiums, there are now 5 attached units in escrow, and the median price is $685,000 . Of this number, 3 are short sales in escrow in Coto De Caza. These short sale condos are 60% of the total units in escrow, and the median price is $300,000 .

In the past 90 days, there have been a total of 40 detached homes that have sold and closed escrow in Coto De Caza. The median price of these sold homes was $940,000 and the average price per square foot was $278 . Of this total were 9 short sale properties, which was 23% of the total sales. The median price was $805,000 , and the average price per square foot was $258 .

For attached condos, there have been a total of 3 condominium sales in the past 3 months. The median price was $302,000 , and the average price per square foot was $231 in Coto De Caza. In addition, there were 1 short sale condos that sold and closed escrow during this same period of time, which was 33% of the total number of units sold. The median price of the sold short sale condos was $302,000 , and the average price per square foot was $203 .

As can be seen above, the ratio of Pending in Escrow short sale listings, to Pending total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties. This illustrates that short sales fail at a high rate. Property owners who owe more than their home is worth, should seek to work with an experienced Coto De Caza short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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